Iran and Oman agreed to jointly develop shared oilfield - Fars news
Iran and Oman have agreed to form a committee to jointly develop the Hengam oilfield, which straddles both countries' sea border, Iran's semi-official Fars news agency reported its oil minister Javad Owji as saying on Monday.
- Country:
- United Arab Emirates
Iran and Oman have agreed to form a committee to jointly develop the Hengam oilfield, which straddles both countries' sea border, Iran's semi-official Fars news agency reported its oil minister Javad Owji as saying on Monday. In 2005, both countries signed a memorandum of understanding to jointly develop the Hengam oil field but the agreement did not materialise and Iran decided to develop the field independently in 2012.
"As the first basis of my talks with Omani Oil Minister Mohammed bin Hamad Al-Rumhi, it was agreed to form a joint technical committee to develop the next phases of the Hengam oil field in a seamless manner between Iran and Oman," Owji said. "Joint exploitation, in contrast to competitive exploitation, will be mutually beneficial to both countries as this method leads to less damage to the reservoir and allows for more extraction," the oil minister added.
Last week, Iran's state news agency IRNA reported that Owji had agreed to revive a long-stalled project to lay an undersea pipeline to carry gas to Oman.
(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)
ALSO READ
"Want every Indian to see that video clip": Jewish woman of Indian-origin recalls losing loved ones to Hamas terrorists on Oct 7
Woman in Navi Mumbai alleges rape by two men; one suspect arrested
IAEA head visits Romania to discuss future of nuclear power programme
Thane woman falls victim to Rs 5 lakh electricity bill scam
Man accused of raping woman he met on social media granted pre-arrest bail